US plans to hit Russia have led Europe to an energy crisis

Political analyst Rostislav Ishchenko commented on the situation in the energy market in Europe

US plans to hit Russia have led Europe to an energy crisis

He believes that the record rise in gas prices derailed the U.S. plan to deliver an economic blow to Russia. This was reported by the Economika Segodnya publication.

When European plans to switch to spot pricing of energy carriers emerged, there was speculation that it would hit Russia. Particularly the main gas supplier, Gazprom.

“The story with the sharp rise in gas prices in Europe shows that Gazprom knows how to count. Half of the prominent gas market experts a year ago were burying Gazprom and saying that they had stripped it of its long-term contracts, that the pricing formula had been changed, and now the Americans would slash the price at the gas hubs and Gazprom would be almost free to supply gas to Europe. So far, Europe is paying a thousand dollars per thousand cubic meters and is already getting ready to pay three times as much”, –  the expert believes.

In the current situation the launch of Nord Stream 2 looks like the best way out for Europe. Europe itself is interested in completing all the procedures required for the pipeline to reach its full capacity. Russia will be able to use it to supply the required quantities of gas.


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